Instructions: Make sure you use only ONE Google Sheetr'Microsoft Excel file. Then, rename each sheet as following. . Sheet 1 = Q8 . Sheet 2 = Q15 1. Q8 (p. 228-229) Please Note: - You're making four (4) adjusting entries in General Journal. 0 There is E need to make General Ledger for Adjusting Entries. You will do this in next question. - You're making an annual (1-year) adjustment and not monthly. . There is E need for closing entries for this question. [a] Open a ledger using the accounts and balances on the trial balance and account 302, Income Summary. [b] Ioumalize the closing entries for the month of December. [c] Post the closing entries. (:1) Prepare a post-closing trial balance. [e] Prepare a statement of owner's equity. [1] Does the nal balance in the Capital account in the ledger agree with the statement of owner's equity? W. Smash}: Trial Balance December 31. 20- Account Acc. No. Cash 100 Accounts Receivable 101 Supplies 102 Equipment 1 I 0 Eleliway.r Truck 1 1:! Amounts Payable 200 Bank Loan 210 W. Suatadtuk, Capital 300 W. Stratadmk, Drawings 301 Sales 400 Salaries Expense 500 Rent Expense 501 Miscellaneous Expense 502 Ofce Expense 503 Telephone and lntemet Expense 504 Debit 5 2400 2 035 960 10 500 27' 000 Credit in 2 245 1 400 40 I500 119?0 $56 215 \f2. Q15 (p. 248) - Only (Iv-(d) Please Note: - First open the General Ledger (not Taccounts) accounts for all of the temporary accounts ('e.g._, revenue, expenses, drawings, and income summary) using the balances given in the Trial Balances. . Then, joumalize the closing entries must be done in General Journal. . Then, post the journal entries to the General Ledger. . At last, generate a PostClosing Trial Balance from the total balances you generate from the step above. - No need to do Statement of Owner's Equity [e-t)